AimRite Holdings Secures Funding For COAST Production.SAN DIEGO--(BUSINESS WIRE)--June 25, 1998--AimRite Holdings Corporation is pleased to announce that it has secured a commitment for $1,000,000 for startup production of the COAST(TM) computer controlled suspension product line. Montecito Ventures of Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , CA and Juncture Ventures of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA have agreed on the terms for placement of the funds into the company no later than July 31, 1998. Second level funding sources for capital have been identified and are being pursued. As a result, AimRite is now prepared to aggressively pursue its $35 Million initial year sales goal. AimRite continues to fulfill its original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) contractual agreements and to expand into the aftermarket light duty truck and sport utility vehicle markets with the very best ride control technology available. The COAST (Computer Optimized Adaptive Suspension Technology) suspension system uses Variable Constant Force (TM) to dramatically improve vehicle stability, ride comfortand performance for virtually all automotive applications. According to company estimates, the initial production after-market applications for COAST in the sport utility vehicle industry alone comprise a potential of an estimated 3.5 million vehicles, including the Chevrolet/GMC Suburban, Tahoe & Yukon, Ford Lincoln Navigator, Expedition & Explorer, as well as many others. AIMRITE HAS A WEBSITE THAT CAN BE VISITED AT WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. .AIMRITE.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. This release is intended as a forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to (i) The ability to produce the COAST Suspension Technology in the future, (ii) Unexpected changes in the suspension market, (iii) The success of the Company's expansion and marketing strategies (iv) Competition with conventional suspension systems (v) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs and (vi) unexpected challenges to the patents.
CONTACT: Prima Capital-Corporate Communications
800/600-8599
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